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News and research on the property market in Dubai. Read our latest news articles on what is happening in the real estate market in Dubai including information on properties, statistics and trends. Catch up on the latest data affecting those looking to buy a property or holiday home in Dubai.

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Having been dropping like a stone thanks to the global economic crisis, Dubai property prices have finally risen again, according to real estate consultancy Colliers International – by 7% in the third quarter. This is the first rise since the emirate’s property market crashed at the end of 2008. Investors who bought during the boom will not be dancing in the streets just yet, though, as this rise still leaves prices around 50% down on their pre-crash level.

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Property prices in sunny Dubai have already dropped 48% since last year, and they are about to fall another 20% according to research firm Colliers International. The global economic crisis has taken its toll in Dubai as in most other places, and as more completed developments reach the market, prices are falling quickly as demand drops away. This is not predicted to change until demand once again outstrips supply.

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Dubai the brand stands for opulence and a luxurious lifestyle in a modern and vibrant 21st century city that has risen from the desert sands in just a few years.

The Dubai dream has turned in to a nightmare as an economy built on tourism; property and financial services took the full force of the recession hurricane head on.

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Dubai investors and home owners should keep their eyes peeled on a soon-to-be announcement that involves new rules and regulations governing the property industry. The announcement, expected within a few short weeks – is supposed to be helping with confidence in the hard hit real estate industry in Dubai.

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Dubai’s office rents have dropped by 18 percent in the first quarter this year. Matt Green, Associate Director of CB Richard Ellis said to media ” This is the first time in a long period of time that commercial office lease rates are recording a steady decline. The decline in rental prices in the office market is a first in the last four years.”

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dubai-strip A new amended Article 11 of Law No13 will be released by the Dubai Land Department. The new rule will regulate the Interim Real Estate Register in Dubai within the next two weeks. It will introduce new provisions for cancellation of contracts.

Last year in November the department issued an internal administrative circular. In the memo it gave the interpretation of the meaning and practical application of Article 11. The circular states that in case of a termination of an off-plan contract, the developer may retain 30 per cent of the contract value with the rule (30 to 70 per cent of the amounts paid) and shall be applicable to the amounts exceeding 30 per cent.

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